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73% Fear U.S. Will Run Out of Money If More Are Bailed Out
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Sizable pluralities of Americans are opposed to taxpayer-backed bailouts of the Big Three automakers, with 73% now worried the U.S. government will run out of money with all the demands being made on the federal treasury in the current economic crisis.

Forty-one percent (41%) of adult Americans are Very worried the government will run out of money, according to a new Rasmussen Reports national telephone survey. Only six percent (6%) are not worried at all.

Women are slightly more worried than men, Republicans more than Democrats, whites more than blacks, and younger Americans more than older ones.

Thirty-eight percent (38%) of investors say they are Very worried the government will run out of money, compared to 45% of non-investors, but when those who are somewhat worried are factored in, the two groups are virtually identical.

Forty-six percent (46%) of Americans are opposed to a taxpayer-backed bailout of the Big Three automakers. Thirty percent (30%) support such a plan, and 25% are undecided.

A near identical percentage (45%) are opposed to a specific government bailout for General Motors, which says it is facing bankruptcy in the near future without an infusion of federal aid. Thirty-five percent (35%) of Americans support a GM bailout, with a sizable group (20%) not sure.

Consumer and investor confidence, as measured by the Rasmussen Consumer and Investor indexes, today regained a little of the ground it has lost over the past week.

President-elect Obama and the Democratic congressional leadership, under added pressure from the United Auto Workers union, are hoping to pass a bailout plan for the auto industry as quickly as possible. Congress is going into special session next week to consider such a bailout and a second economic stimulus plan.

A majority of Republicans oppose bailouts for any or all of the Big Three automakers. Democrats are more closely divided on the questions, but a plurality favor bailouts. By contrast, pluralities of unaffiliated voters are against any federal bailouts of the auto industry.

In a survey last month, 83% said the U.S. auto industry is at least somewhat important to the financial stability of the overall economy,with 38% saying it is Very important. But the number of those who rate the industry Very important to the overall economy has fallen 11 points since a survey in March 2007.

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With the federal government already providing unprecedented help for the U.S. financial industry and thinking about doing the same for the auto industry, 80% are concerned the government is getting too involved in the private economy. Of this group, 48% are Very concerned.

Just two percent (2%) are not concerned at all.

This findings parallel a survey last week when 46% worried the government will do too much in response to the economic situation while 40% worry it won’t do enough. Sixty-three percent (63%) said the best stimulus for the economy would be more tax cuts.

Fifty-five percent (55%) of men are Very concerned that the government will get too involved in the private economy, compared to 42% of women. Sixty-five percent (65%) of Republicans share this high level of concern, as do 36% of Democrats and 45% of unaffiliated voters.

Fifty-one percent (51%) of investors are Very concerned the government will get too involved in the private economy versus 45% of non-investors.

We gave visitors to Rasmussen Reports a chance to predict the results of this survey. To see the results of predictions made by our readers, click here.

If Congress and the president-elect insist on a bailout for the auto industry, 76% agree with Obama that the automakers should be required to make cleaner, more energy-efficient cars as part of the deal. Fifteen percent (15%) disagree, and nine percent (9%) are undecided.

Congress already has approved $25 billion in taxpayer-backed loans for the auto industry to modernize its plants. The automakers are seeking at least $25 billion more for payroll and other basic needs.

Supporters of a bailout plan say collapse of the Big Three automakers could throw up to three million people out of work and cost local, state and federal governments billions through a combination of lost taxes and additional unemployment and health care spending. Opponents say a bailout of GM just delays the company’s inevitable restructuring and downsizing.

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Rasmussen Reports is an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information.

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Scott Rasmussen, president of Rasmussen Reports, has been an independent pollster for more than a decade.

Survey of 1,000 Adults
November 11-12, 2008

How worried are you that the U.S. government will run out of money?

Very Worried

41%

Somewhat Worried

32%

Not Very Worried

18%

Not at all Worried

6%

Not Sure

3%

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